Utility
$UCM token (current), $IDEAX token (Jul/Aug'23) & IDEAX NFT (Jul'23)
Payments within the $UCM Ecosystem
Currently the $UCM token smart contract has limited functionality and serves its purpose as a basic utility token that is traded on the ProBit Exchange.
We will be introducing a new token ($IDEAX) that will not be traded initially but can be swapped with the $UCM token, IDEAXNFT (when available) and/or other select currencies such as BTC, ETH, BNB, DOGE, MATIC or USDT.
The new $IDEAX token will be able to offer a deflationary, settlement service for all payments that occur on and off the $IDEAX platform through its smart contract.
The new IDEAX ecosystem will use the deflationary $IDEAX token to settle all smart contract-related payments, subscription fees, and usage fees.
We will include the ability to receive cash payments from users and organisations who are not familiar with cryptocurrencies and/or digital assets. These cash transactions will further support the deflationary IDEAX ecosystem.
When users pay GAS and/or subscription fees with non-$UCM or $IDEAX tokens, the $IDEAX bridge will charge a 10% surcharge and automatically swap these coins for their equivalent value in $UCM or $IDEAX tokens. This ensures that IDEAX settles as many fees as possible in $UCM or $IDEAX.
Who benefits from using $UCM or $IDEAX to settle all transactions? This feature is beneficial to the long-term holders and to the strength of the entire IDEAX ecosystem. Settling all transactions in $UCM or $IDEAX increases the need and demand for tokens, which in turn can elevate the scarcity and value of tokens for IDEAX users and holders.
Funding Startups:
Startups can be funded directly through $UCM tokens, $IDEAX tokens, IDEAX NFTs and through traditional fiat currencies. It is up to the startup regarding how they want to receive funding but we will of course promote the use of $UCM and $IDEAX related tokens to facilitate settlement. Startups will receive an additional bonus if selecting $UCM and/or $IDEAX tokens.
The same applies to investors who are looking to invest in IDEAX startup projects. Investors can use $UCM tokens, $IDEAX tokens (when available) and IDEAX NFTs to support promising startups by purchasing/swapping their tokens and/or equity during fundraising campaigns.
Investors will have several options to facilitate funding transactions and as such, will contribute towards the deflationary ecosystem that we are developing for the IDEAX community.
A fixed portion of funds raised will be used to further develop and support the IDEAX ecosystem and the tokens and NFTs that support it.
Community Governance:
$IDEAX token holders can participate in decentralised governance by voting on key proposals and initiatives within the IDEAX ecosystem.
Voting power is proportional to the number of $UCM or $IDEAX tokens held, encouraging active participation and decision-making by the community.
Access to Services:
Startups will be able to utilise any of the IDEAX tokens or NFTs that are in-market to access various services within the IDEAX ecosystem, such as advisory services, sales and marketing support, fundraising and accelerator programs.
Service providers within the IDEAX ecosystem will be paid in our native tokens and NFTs, creating a self-sustaining economy.
Staking and Rewards:
$UCM or $IDEAX token holders have the opportunity to stake their tokens and earn additional rewards (Coming soon)
Staking provides benefits such as early access to startup token sales, priority access to ecosystem services, and exclusive networking opportunities.
Rewards are distributed from the reserve fund and ecosystem fees, incentivising long-term token holders and active community participation.
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